Not much new to start the week except news on our latest pick, Inomin Mines Inc. (MINE:TSX.V; IMC:FRA) and last week Northern Graphite stock broke out to the upside. Gold is flat, but I have noticed that
natural gas has dropped from around $6.25 to $5 area. I am watching gas storage levels and they are right around the 5 year average. The natural gas market will be weather driven and as such, tough to predict.
My prediction of a scary September/October was a pretty faint ‘boo’.
We got a small correction on the S&P 500 like last year. The market is off to new highs and the bubble peak is still illusive.
Today, MINE announced they completed a five hole drill program
totaling 715 meters at the Company’s Beaver-Lynx Nickel-Cobalt property
BC. Drill holes – testing a strike length of 5.7 km – intersected long intervals of favourable mineralization ranging up to 190 metres in thickness. The diamond drilling program successfully tested the Spur and North Lobe zones, large 5 – 6 kilometre-long areas defined by the preceding ground magnetics survey, believed prospective for nickel and cobalt mineralization.
The stock is not much above our entry price and still very cheap here. I don’t know how long it will take to get assay results, but a break over resistance at $0.13 would be very positive and I would buy and/or add to positions on that break out.
NGC has been on our list a long time and I hope many of you bought on the break out I highlighted at $0.51 in my Oct. 16th update. From that break out it traded sideways for a bit and hit $0.80 in this move. It might consolidate a bit more, and maybe try bids around $0.65.
News last week was that Battery anode material (BAM) manufactured from NGC’s Bissett Creek concentrates demonstrated excellent electrochemical performance during recent battery testing by ProGraphite in Germany. Testing showed that Northern’s anode material can be charged to high values which remain stable with high Coulomb efficiency under various discharge conditions. ProGraphite concluded that Northern’s anode material is very well suited for the manufacture of high-capacity, durable, long-life lithium-ion batteries.
ProGraphite is one of the world’s leading graphite research and development laboratories, with several decades of professional expertise and experience. Its test results demonstrated that Bissett Creek BAM can be charged to lithiation values above 362 mAh/g (milliampere hours per gram) which shows that the capacity of the batteries will be excellent. The delithiation (discharging) performance was also excellent as the batteries delivered stable, high values with a very high Coulomb efficiency under various test conditions. Northern’s BAM also proved to be very robust. Even after charging/discharging several times at 10C (i.e. complete charging in only six minutes) and after many cycles, the Coulomb efficiency remained at a very high, constant level indicating almost no degradation of the anode material. This performance is better than many commercial natural or synthetic grades.
Northern chief executive officer Greg Bowes commented that “graphite is generally evaluated based on flake size and purity, but when it comes to making batteries, many other factors are critical and not all concentrates are suitable. High bulk density translates into higher capacity batteries, and ease of purification and high yield result in lower costs. Testing by ProGraphite provides independent, third party validation that Bissett Creek concentrates are of the highest quality.” I am thinking the stock could have support around $0.64.
Also worth noting today is Rokmaster announced that it has substantially expanded is mineral claim holdings, north of the main Revel Ridge Project area. Newly acquired mineral tenures Downie (3,173 ha), Keystone (1,992 ha), and North (161 ha) claims overlie the portions of the historic Keystone, Montgomery, Upper Montgomery, KJ and Ice occurrences. The Keystone, Downie, and North claims lie 12 to 20 km to the northwest of the existing Revel Ridge deposits.
A company does not acquire additional claims unless they are very bullish on what they are finding. The stock has not participated in the current rally and is a laggard. The stock is in a good support zone and looks like we have a triple bottom. There is also a wedge pattern in play. A break above $0.44, near term would be bullish and that is also around the 200 day MA.
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